Fair Value Disclosure (Tables)

6 Months Ended

Dec. 31, 2014

Schedule of Fair Value, Cash Equivalents and Long-term Investments Measured on Recurring Basis

The following table sets forth the Company’s cash equivalents and long-term investments as of December 31, 2014 and June 30, 2014 which are measured at fair value on a recurring basis by level within the fair value hierarchy. These are classified based on the lowest level of input that is significant to the fair value measurement (in thousands):



December 31, 2014	Level 1		Level 2		Level 3		Asset at Fair Value
Money market funds	$	311	$	—	$	—	$	311
Auction rate securities	—		—		2,647		2,647
Total	$	311	$	—	$	2,647	$	2,958

June 30, 2014	Level 1		Level 2		Level 3		Asset at Fair Value
Money market funds	$	311	$	—	$	—	$	311
Auction rate securities	—		—		2,647		2,647
Total	$	311	$	—	$	2,647	$	2,958

Schedule of Financial Assets Measured at Fair Value on Recurring Basis

The following table provides a reconciliation of the Company’s financial assets measured at fair value on a recurring basis, consisting of long-term auction rate securities, using significant unobservable inputs (Level 3) for the three and six months ended December 31, 2014 and 2013 (in thousands):



	Three Months Ended December 31,				Six Months Ended December 31,
	2014		2013		2014		2013
Balance as of beginning of period	$	2,647	$	2,637	$	2,647	$	2,637
Total realized gains or (losses) included in net income	—		—		—		—
Total unrealized gains or (losses) included in other comprehensive income	—		—		—		—
Sales and settlements at par	—		—		—		—
Transfers in and/or out of Level 3	—		—		—		—
Balance as of end of period	$	2,647	$	2,637	$	2,647	$	2,637

Schedule of Long-term Investments Reconciliation

The following is a summary of the Company’s long-term investments as of December 31, 2014 and June 30, 2014 (in thousands):



	December 31, 2014
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Fair Value
Auction rate securities	$	2,750	$	—	$	(103	)	$	2,647

	June 30, 2014
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Fair Value
Auction rate securities	$	2,750	$	—	$	(103	)	$	2,647

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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